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Clinical Risk Grouping Solutions Market

Clinical Risk Grouping Solutions Market Size, Share & Segment by Product Type (Scorecard & Visualization Tools, Dashboard Analytics, Risk Reporting), By Deployment Model (Private Cloud, Public Cloud, Hybrid Cloud), By End User (Hospitals, Payers, Ambulatory Care Centers, Long- Term Care Centers), by Regions and Global Forecast 2022-2028

Report Id: SNS/HC/2027 | June 2022 | Region: Global | 125 Pages

Report Scope & Overview:

The Clinical Risk Grouping Solutions Market Size was valued at USD 559 million in 2021, and is expected to reach USD 1444 million by 2028, and grow at a CAGR of 14.5% over the forecast period 2022-2028.

The market for clinical risk grouping software is being driven by growing consumer awareness of risk management and the adoption of big data solutions. Significant growth prospects for market players are also presented by the mounting paperwork that causes physician fatigue and the growing emphasis on AI & machine learning.

Clinical Risk Grouping Solutions Market

The Clinical Risk Grouping (CRG) solutions are a well-known method for classifying and grouping people using inpatient and outpatient diagnosis and procedure codes, drug records, demographic information, and functional health status in order to place each person in a particular risk group for future healthcare projections. A software called CRG uses expert clinical logic to divide each patient into a certain risk group. It is a particular mechanism for categorizing people based on data and supported by clinical evidence. It uses a wide range of data, including patient histories, records, administrative data, and other data to identify individuals from different age groups, adults, including children, and elderly people.

CRGs are largely used to assess the prevalence of chronic or congenital diseases, adjust prices and capitations for risk, profile physician practice patterns, profile novel illness patterns and occurrences, and many more purposes. All populations can benefit from CRG's patient-centric approach, which focuses on the overall burden of diseases rather than just one illness. In order to monitor possibly avoidable incidents and predict future healthcare use, they are also employed.

MARKET DYNAMICS

DRIVERS

  • Growth in the Use of Big Data Solutions

  • Benefits of Risk Management Solutions

RESTRAINTS

  • Insufficient infrastructure

  • Privacy Breach in the Private Cloud: Issues

  • Exorbitant Price for Clinical Solutions

OPPORTUNITIES

  • Increasing Doctor Burnout as a Result of Documentation Requirements

  • The importance of AI and machine learning is rising.

CHALLENGES

  • Lack of Experienced Healthcare IT Professionals

  • Privacy Issues Associated with Patient Data

IMPACT OF COVID-19

Healthcare organisations are already formulating new strategies to deal with the increasing COVID-19 patient population, from locating speedy diagnostic tools to procuring enough PPE kits for staff.

The financing for chondroitin sulfate-related R&D activities has been cut due to the medical community's shift toward treating COVID-19, and as a result, this sector must deal with neglect, which has a detrimental effect on clinical risks. market for grouping solutions

However, CRGs could be crucial during this COVID-19 pandemic since they would aid healthcare administrators, professionals, and physicians in categorizing individuals into particular categories utilizing patient data.

Governments want to deploy CRGs in COVID-19-related healthcare services to annoy healthcare providers and boost efficiency.

By Product Type

Clinical risk grouping solutions come in three different product categories: scorecard & visualization tools, dashboard analytics, and risk reporting. Due to its capacity to estimate payment processes precisely and project per-patient risk, the scorecard & visualization tools segment commanded the greatest part of the market. During the projected period, the segment's growth is anticipated to be aided by the growing demand to lower healthcare expenses through these two channels.

By Deployment Model

Due to the highest level of security for sensitive data and suitability for highly sensitive clinical risk grouping data, private cloud accounted for the largest proportion of the clinical risk grouping software market in 2018. To prevent any violation of data privacy that can have legal repercussions, this data must be stored securely. Nevertheless, it is anticipated that the public cloud category would develop at the highest CAGR and the fastest rate. Due to the low cost of public cloud systems in comparison to alternative deployment options and the large number of public cloud providers, this market is expanding.

By End User

End-users of clinical risk grouping solutions include hospitals, payers, ambulatory care facilities, long-term care facilities, and others; hospitals held the biggest market share of these solutions. The expansion of this market is being driven by the expanding use of big data solutions in healthcare facilities (such as hospitals and clinics), the increasing attention that caregivers are giving to risk management, and the expanding use of AI and machine learning in the healthcare sector.

COMPETITIVE LANDSCAPE

Some of the major key players of Clinical Risk Grouping Solutions Market are as follows: 3M Corporation, Dynamic Healthcare Systems, Cerner Corporation, Optum Inc., Conduent Inc., Health Catalyst, Johns Hopkins University, Nuance Communications, HBI Solutions, PeraHealth, Lightbeam Health Solutions.

MARKET SEGMENTS:

By Product Type

  • Scorecard & Visualization Tools

  • Dashboard Analytics

  • Risk Reporting

By Deployment Model

  • Private Cloud

  • Public Cloud

  • Hybrid Cloud

By End User

  • Hospitals

  • Payers

  • Ambulatory Care Centers

  • Long- Term Care Centers

Clinical Risk Grouping Solutions Market

REGIONAL ANALYSIS

With the greatest market share among the geographical categories, North America is predicted to experience considerable market expansion. The dominance is caused by elements like the rise in the prevalence of chronic diseases worldwide and the increasing adoption of technology in the area, which has led to an increase in demand for novel treatment methods that are driving the market in the United States. The presence of a well-developed infrastructure, the presence of major industry and government initiatives to induce clinical data management solutions in the healthcare settings, the sharp increase in healthcare spending and high pressure to achieve better health outcomes at lower costs, as well as the availability of these factors will all contribute to the market's growth in the near future.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

 

Clinical Risk Grouping Solutions Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 559 Million
Market Size by 2028 US$ 1444  Million
CAGR CAGR of 14.5% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Product Type (Scorecard & Visualization Tools, Dashboard Analytics, Risk Reporting)
• By Deployment Model (Private Cloud, Public Cloud, Hybrid Cloud)
• By End User (Hospitals, Payers, Ambulatory Care Centers, Long- Term Care Centers)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles 3M Corporation, Dynamic Healthcare Systems, Cerner Corporation, Optum Inc., Conduent Inc., Health Catalyst, Johns Hopkins University, Nuance Communications, HBI Solutions, PeraHealth, Lightbeam Health Solutions.
DRIVERS • Growth in the Use of Big Data Solutions
• Benefits of Risk Management Solutions
RESTRAINTS • Insufficient infrastructure
• Privacy Breach in the Private Cloud: Issues
• Exorbitant Price for Clinical Solutions


Frequently Asked Questions (FAQ) :

The forecast period of the Clinical Risk Grouping Solutions market is 2022 to 2028.

Insufficient infrastructure, Exorbitant Price for Clinical Solutions are the restraints of Clinical Risk Grouping Solutions Market.

Clinical Risk Grouping Solutions Market is divided into three segments By Product Type, By Deployment Model, and By End User

With the greatest market share among the geographical categories, North America is predicted to experience considerable market expansion.

Due to its capacity to estimate payment processes precisely and project per-patient risk, the scorecard & visualization tools segment commanded the greatest part of the market.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine ware

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

  

8. Clinical Risk Grouping Solutions Market Segmentation, By Product Type

8.1 Scorecard & Visualization Tools

8.2 Dashboard Analytics

8.3 Risk Reporting

 

9. Clinical Risk Grouping Solutions Market Segmentation, By Deployment Model

9.1 Private Cloud

9.2 Public Cloud

9.3 Hybrid Cloud

 

10. Clinical Risk Grouping Solutions Market Segmentation, By End User

10.1 Hospitals

10.2 Payers

10.3 Ambulatory Care Centers

10.4 Long- Term Care Centers

 

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2 Canada

11.2.3 Mexico

11.3 Europe

11.3.1 Germany

11.3.2 UK

11.3.3 France

11.3.4 Italy

11.3.5 Spain

11.3.6 The Netherlands

11.3.7 Rest of Europe

11.4 Asia-Pacific

11.4.1 Japan

11.4.2 South Korea

11.4.3 China

11.4.4 India

11.4.5 Australia

11.4.6 Rest of Asia-Pacific

11.5 The Middle East & Africa

11.5.1 Israel

11.5.2 UAE

11.5.3 South Africa

11.5.4 Rest

11.6 Latin America

11.6.1 Brazil

11.6.2 Argentina

11.6.3 Rest of Latin America

 

12.Company Profiles

12.1 3M Corporation            

            12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 Dynamic Healthcare Systems

12.3 Cerner Corporation

12.4 Optum Inc.

12.5 Conduent Inc.

12.6 Health Catalyst

12.7 Johns Hopkins University

12.8 Nuance Communications

12.9 HBI Solutions

12.10 PeraHealth

 

13.Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

 

14.Conclusion

 

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of the good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

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